Driving toward a greener future, SOLshare, a trailblazing climate-tech company based in Dhaka, Bangladesh, has secured a substantial $2.2 million in funding, a critical part of a larger $4 million round spearheaded by SBK Tech Ventures. This injection of capital marks a strategic move to integrate electric vehicles (EVs) into the company’s operations. As electric vehicles become part of the Blue Dart fleet, there is an anticipated reduction in CO2 emissions of about 15.05 tons monthly, exemplifying SOLshare’s commitment to environmental stewardship. Not only does the plan involve a progressive pivot to e-mobility, but also a significant environmental project that involves planting over 111,000 trees every year. Once these trees reach full maturity, they are expected to offset an impressive 13,320 tons of CO2 annually, further embedding SOLshare’s dedication to sustainability into the very fabric of its corporate identity.
Pioneering Bangladesh’s First Virtual Power Plant
SOLshare stands out in the energy landscape with the Rickshaw VPP, Bangladesh’s first virtual power plant, spearheading innovation and leading an eco-friendly crusade. This initiative could cut the national grid’s peak load by 30%. CEO Sebastian Groh views the endeavor as transforming electric vehicles (EVs) from burdens to assets, potentially increasing earnings for millions of low-income EV operators, and propelling the country towards its net-zero emissions goal.
SOLshare’s history also gleams with international praise, from around 2014-2015, especially for its SOLbazaar platform. This breakthrough addresses energy shortages by offering energy and micro-mobility services, harnessing state-of-the-art technologies like IoT and commercial solar solutions. This facilitates a unique convergence of energy and transportation, providing communities with greener, more cost-effective energy solutions. With an eye on the future, SOLshare’s mission promotes sustainable energy and transport, while touting financial empowerment through innovative technology.
